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- Insights
- Cryptocurrencies
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- Industry
- Geography
As we enter a new calendar year, the crypto market is witnessing a rise. Subsequently, investors are actively searching for projects with great potential. At present, meme coins are hot assets, with Dogecoin and Meme Moguls being the best options.
Dogecoin has been in the headlines for its rise lately. However, Meme Moguls has stolen all the limelight. The project is expected to skyrocket by 10000% this year. Hence, there is a massive demand for its ongoing presale.
According to the findings of a report, about 73% of crypto investors worldwide consider investing in meme coins a gamble. The existing meme coins' value relies on hype. Hence, meme coin investors depend on speculation to earn. But this perception is about to change with the entry of Meme Moguls.
It is a play-to-earn (P2E) meme coin built on the Ethereum blockchain. The project has brought utility and meme coins together and is not dependent on market hype. It will roll out a gaming ecosystem, where users can play and earn together. In the platform's Beat the Market game mode, players will need to outperform indices like the S&P 500 and can earn easy money. There will be more in-game modes on Meme Moguls
To up the ante, platform users can start tournaments and create pools too, where the winner takes all. By playing and winning games, users can also level up their in-game ranking to "mogul." The platform has also announced plans to launch a marketplace. Here, users will be able to sell, buy, or swap in-game assets. Its native crypto, MGLS, will be used as an in-game currency as well as a governance token on the platform.
The platform will cap the total supply of tokens at three billion. Notably, 60% of the total tokens are for the presale round, which is currently in its third stage. Currently, an MGLS token costs $0.0027, up from its starting price of $0.0019. Moreover, analysts believe it will rise by 100x in its first year. Additionally, the platform will give a $10,000 giveaway after each presale stage.
The Dogecoin community has become active after a big tranche of DOGE tokens was moved. Recently, an anonymous sender moved a considerable 59.9 million Dogecoin tokens from their wallet to Coinbase. Interestingly, the worth of the Dogecoin tokens transferred from the unidentified wallet stood at around $5 million.
Notably, Dogecoin has witnessed several such high-value DOGE transfers. Earlier this week, an unidentified wallet had transferred around 65 million Dogecoin tokens to Coinbase. In another instance, 230 million Dogecoin tokens worth around $22 million were moved to Robinhood. Besides, a staggering one billion DOGE tokens had also moved from Binance to an unknown wallet.
Such large-scale DOGE transactions have left the Dogecoin community intrigued. The motive behind these large transactions is still not clear. Hence, speculations regarding its impact on the market value of Dogecoin are rife.
However, Dogecoin has not shown any extreme volatility. Its market value has been moving steadily, without sudden fluctuations. In the past 30 days, the market price of Dogecoin's DOGE token has risen by over 9%. Consequently, the trading price of Dogecoin currently stands at $0.0919. In terms of market capitalization, Dogecoin is now in the 11th position.
